04 May 2016
Form 15G can be submitted by Hindu undivided families also but form 15H can be submitted only by Individual above the age of 60 years.
Any false or wrong declaration attracts penalty under section 277 & so it should not be signed blindly. Such false declaration is liable for prosecution which may range from 3 months to 7 years depending upon the quantum of default. Taxpayer can be penalized with rigorous imprisonment irrespective of fact that such wrong details were furnished intentionally or unintentionally as “Ignorance of Law is no excuse.”
Abhishek Ranjan Singh ARS Solutions www.arssolutions.co.in +919022838615
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